I would insist on an option to renew after the current term. How much for the inventory? Find out what the breakdown is for Beer, Liquor and Wine. You might request to work the store alongside the owner for at least one full week to validate sales numbers. Plus it brings traffic. Add groceries and other convenience items is good too but you have to comply with State law which requires a separate cash register and a clear distinction between the retail space dedicated to liquor vs retail space dedicated to other sales.
There are lots of other factors. Competition is key, of course.
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So is parking, visibility, traffic flow, and on and on. Hi Justin, 1 Buying a liquor store Southwest of Denver. Asking price is ,, inventory excluded.
What would you offer? Any other ideas you can pass it on so I can verify the accuracy of the sale? Is that a good idea? Hi Justin, Thank you again for the response. Is it possible to exchange numbers and talk at some point? I am coming close to making an offer and would love to talk with you and get some advice and I am willing to hire your services. Wow, thanks for all of your information. How should I approach this, especially the inventory price? Make sense? I am planning to buy a liquor store with real estate priced at k includes k inventory.
Annual sales are 1 million. How much would I net with that kind of sales and no lease payments or mortgage payments? Hi Dan, There are a few more variables necessary to come up with a net income estimate. It depends on cost of utilities refrigeration is expensive , annual licensing expenses, credit card fees and other misc costs. The more you work, the more you keep in your pocket. Maybe plan on a bit less the first year or two. If the real estate is worth less you may be paying too much.
It has been interesting reading your blog. You sound like an amazing entrepreneur! In one of my capstone classes, we have been asked to complete a business plan start to finish. They let us deliver alcohol in MI! Finance and start up costs are posing to be my most difficult area to come up with answers as most businesses do not display financial data for everyone to see.
Any suggestions to add to my plan would be greatly appreciated. Your article has already helped spark new ideas to add. My parents owned one when I was a teenager for about 8 years so I have a general idea of how things are ran and operated, I simple hate finance and this is the weakest area on my business plan.
Hi Alyssa, thanks for reading my blog! What do you have so far for a pro forma? I can give you some ideas for the liquor inventory piece of the puzzle but there will be many expense categories to cover. You might also hate mops but customers like clean floors. For small businesses financial analysis is just a matter of gathering basic information and translating into a set of numerical estimates.
Start with a list of anticipated expenses. Revenue forecasting is far more of a challenge. I would like to have a look at your business plan that you did. I found you on liquor store blog. The rent sounds high to me. Great blog! I need to have a tutorial on the basics of selling into an account. Understanding margins, how to negotiate case prices for a brand new product, etc. Do you know of a good book? I would love to speak with a store manager.
I wont be selling the product in Colorado and would sign a non disclosure agreement. The product has a lot of potential. I cant discuss in a public forum. We are thinking of seeking out independent sales contractors who sell into accounts for us, having a wholesales group handling distribution.
The distributor agreements with their sales force cuts heavily into profits. Looking to see if we can work around that. Hi Bailey. In Colorado retail liquor store owners are required by law to purchase through a licensed distributor. I have studied in logistics and supply chain, cost price, management, inventory are fun to me. I mean we have wall-mart here as well and pretty much the same stores but liquor are different.
But i guess the licenced distributor is the Guy there… so He decides. How many different kind of bottle a store can handle? I dont know that answer but for sure best seller are best seller but you dont need to have the inventory for the next year…I read that a good Lstore can change his inventory 8 to 10 times in 1 year. Well thats almost every 6 weeks. I dont know how the supplier work seems to mw that hes the BOSS of your business in a certain way. What do you think Monsieur Justin? Justin tu achete un inventaire de rhum peu importe la marque.
Combien de bouteille il faut acheter pour arriver a un bon prix. First off, awesome blog. There are not too many liquor store owners that would take the time to write such useful information. I would like to know what kind of Point of Sale software you would recommend? The options are daunting,. Price was significantly less than some alternatives. Easy to use and runs on Mac which was a priority for my manager. My only complaint was limited reporting capabilities.
Justin Thank you for the information it has been a great help. I am in the process of putting together a bid for a Liquor Store in Southeastern Colorado. Real estate does not have a great value and coolers need updated. I have also been told that the seller wants to retire very soon due to age and health which tells me that he would take less. I have a feeling that the books might not be clean; cash might be leaving the business and not getting reported. Because of this I am going to look at purchases also.
Also can you tell me what the average margin is on the 3 main product categories. Once again Thank you for your help in this matter and the help you have given everyone with this blog. Hi Glen. What sort of revenue numbers are they quoting? When the price is too good to be true it may be a red flag. But it all depends on your customers and their preferences. I suppose it always depends on your customers. Anyway, hope this helps a bit. What is the best product to get inventory for, in other words what alchohol grosses the most money. When you buy inventory it should be tailored to your particular customer base.
Some customers like cheap beer, cheap vodka and cheap whiskey. Some like high-end wines and spirits. As a store owner you need to find out what your customers want to buy. Then find ways to build a profitable inventory to serve their purchase patterns. Thanks Justin I am a little new to the buisness and have not made any relations with suppliers, is there any suppliers who are trying to cheap stores and have outragous costs, I want to make sure I buy from the right people.
Your only path to lower costs is via volume purchases. And, of course, you can only afford to make large purchases for product SKUs you sell the most. Sorry to be the bearer of bad news. Best wishes, Justin. Hi Justin, lets say the proposed change in the liquor law passes and grocery stores are allowed to sell liquor. If my liquor store is anchored by a grocery store how likely would the city give another alcohol beverage license to a business that is right next door to a place that already has an existing license, would the grocery store chain attempt to buy my liquor stores license. What are your thoughts on that scenario.
Difficult to say. Might want to try to add a clause to your lease releasing you in case of change in the law. Or proactively begin communication with the grocery store management. They may want someone to manage liquor inventory for them. Hi Justin, Like others here, I am looking for opinion and knowledge before seriously contemplating a store purchase. The owner will lease turn the key business for a month for 1 year with lease fee deducted from purchase price if property is bought after one year.
Asking price is , Of course inventory would be purchased at start of lease. In your opinion does this seem like a good venture? Would you have any idea what the gross profit percentage might be? I should add they now sell beer, wine and liquor, but there is an additional sq ft available in store but not used at present for retail space.
What other products could be added to increase sales? Your advice would be greatly appreciated. Unless the deal includes real estate or some other special consideration the price tag for the business seems too high. Not including inventory. Gross revenue is pretty low. How has it changed over the past five years? Going down? Holding steady?
Moving up? I think I would favor a deal with higher gross. Being that tiny makes you even more vulnerable to the pricing whims of distributors. To add sales revenue I would add tobacco for sure. Maybe lottery. Depending on state law maybe use the ft to sell snacks etc convenience store style.
As for change as I understand, the gross has gone down since the present owner has had it by about k. The owner admits this is mostly from not operating it himself and not managing it properly because of his other commitments. It is close to a lake, maybe bait and fishing gear along with the convenience items? Thank you, again Dave. Is the location rural? If so, might be very slow when it gets cold, i. Fishing gear is a good idea.
But I would want to see a transaction count to better understand seasonal variability. The price seems reasonable since real estate and equipment is included, depending on market values for similar property in the area. You may want to request a provision to avoid depleted inventory when you take over. In this situation I would probably want an owner carry deal. If he says he wants a clean exit so he can take the money and move on I would run the other direction. Any tips? Be sure to start out with plenty of cash in the bank after you purchase the store to ride the inevitable ups and downs while you learn the particulars of the customers and suppliers in your market.
Very impressed with your blog, business acumen and willingness to help others! Store is in NY — wine and liquor only. Also curious as to what you think about an owner putting in hours with employees covering evenings and weekends? Store is located on a very busy roadway in a large shopping center next to a supermarket. This business has had continued sales growth each year since it was started in At 2, sq.
There are 6 years left on the lease it can be extended. State of the art POS software. Sounds like a good opportunity with strong cash flow. Owner working 50 hours per week should be fine if you have good people and treat them right. Maybe take off Sun-Mon. David: Did you end up buying the store — I am looking at one, also in NY, that seems to be very similar Not the same one though. Just curious, thanks. Great article sir! Liquor store is doing 2. Location is great, right off the main road in town, with ample parking. Please let me know what you think. Hi Jay, how much do you think the real estate is worth?
Also, does the asking price include inventory? I have a partner and would like to invest 75k each. Now, rather than both or one of us behind the counter we want to hire employees and have the pay be commission based. I do understand paying commission will eat into our profit but I think in the long run we could have employees that could push sales and would be willing to educate themselves in the products. If we were to go with commission based pay, how much or what percentage do you feel would work well?
Hi Harvey, thanks for visiting and posting your questions. Depends on too many factors, especially the local market dynamics, location, competition, etc. If neither of you works the store you may not have much of anything left at the end of the year. For a store at that volume I recommend you work behind the counter. More importantly you need to get to know your customers so you can provide the level of service necessary to keep them coming back. My advice is to find a partner who wants to work at the store full time.
Sorry, this is probably not what you wanted to hear. First of all, thank you for all the information you are providing and for posting this great blog. It is very informative for the first time business buyers. Also, it will motivate people like me to post and share our experience so people make less mistakes and excel. I plan on buying a liquor store in IL. Owner has 5 employees and also pays salary to self I have to find out how she pays herself.
Payroll expenses are 82K. Hi Om. These numbers seem pretty good. Asking price is slightly high but not unreasonable. Depending on your financial circumstances, you might ask about the possibility of owner carry so you can begin with the strongest possible cash position. Thank you very much for your input. How do you verify the sales and makes sure the numbers are correct? I am guessing tax papers? How are you? I have couple Qs please help me out, any comments or your advice is appreciated. Story: One liquor store in GA sell 6,5 millions plus 1.
Total sale 7,7 millions Cost goods sold. Thank you for your time and kindness to help me out, any your advice or comments is appreciated. Is that correct? You should get an appraisal from a good realtor who knows the local market. See 1 for real estate. Thank you very very much Justin.. I am very happy to accept your advice and I will make a deal like that.
I also check the real estates to see what going on. Dearest, Paul. Hi Jack. Use my contact form to send me a private message and we can go from there. Thanks, Justin. The numbers you have given from the GA liquid store are similar to a store I am evaluating. Would you mind giving me your phone number or email address, I would like to know if you ever got it? Why and why not? I am looking to buy a liquid store at similar price point here in Atlanta, GA.
Ok… I have a friend looking to set up from scratch a liquor store in the Rustenburg area of South Africa. This is a total start up from nothing. I have read the entirety of comments and answers on this page so now have much information to digest. How would you approach this situation early days as it is?
Hi Jason. Hi Justin, how are you? I have couple Qs, please please help me out, Justin. I do appreciate your time and kindness. In general, what do we have from seller before first offer. So do i need an agent for me. Is it right? If i have first offer document, do i need an Attorney to do that. Do I have to pay from my pocket for appraisal? Please help me out about appraisal, when and how we need to do that.
Even now we dont know much seller info, but we do offer we have to have some conditions. So i list following. Plesse help me anything else we have to do. This contract shall be contingent upon the closing of the existing business located at address 3. Buyer shall pay only closing costs associated with obtaining the SBA loan. Seller shall pay all closing costs associated with this transaction the sale of land, improvement, and Business.
Seller warrants that Seller and the Manager s employed at the liquor store Business shall provide training to Buyer, at no additional cost to Buyer, from the date in which Seller receives the commitment letter issued by the Lender until thirty 30 days after closing date. Training shall be provided every day that the liquor store business is opened and from the time the business opens to the time that the business closes.
This provision shall be considered a personal service agreement between Seller and Buyer. Seller acknowledges that a material breach of this paragraph will result in irreparable and continuing damage to Buyer for which there will be no adequate remedy at law. The parties expressly agree that this provision does not represent a penalty or punitive clause but represents an agreed measure of damages, the amount of which is impossible to determine on the date of this Agreement is signed.
I know you are busy of schedule , I am proud of you and appreciate what you have done for me. You should consult an attorney before signing any sort of formal purchase agreement.
Be sure a formal offer is contingent on financing, property inspection and verification of sales data so you have the option to walk away once you learn more. In fact, it can be a good strategy because the seller may start counting their money before the deal is done giving you leverage. Thank you very very much Justin.
How should I go about this? I have ZERO idea about liquor business or any retail business. Good luck, Justin. Thank you so much for your insight and expertise. My husband has recently taken and interest with opening a liquor store from scratch in the Atlanta area of Georgia. We do not have any start up cash, and would be looking to the bank for a loan. We also would be looking to sign a lease for location for the business. He is willing to work in the store full time, and I will help out on weekends.
I have read your post as well as the comments. I know it will be challenging but, in your opinion, does it seem feasible for us to try our hand with such a business, considering we have no cash to start with and not a lot of knowledge about this industry? Hi Jo. I would recommend against it. Note this is based on my attempt to read the very complex and poorly organized liquor code in Colorado. Also, your lack of experience is concerning. My recommendation would be to suggest to your husband that it might be wise to work as an employee in a liquor store before making the plunge.
He can offer to work for cheap and maybe a manager or owner could teach him more than cashiering. This store needs to be closed and cleaned up, I want to change it into a fine wine and craft beer store. The neighborhood is ripe for it, highlands area in Denver. Hi Mark, Many liquor store operators under-report cash sales. Base your offer on his tax returns. Justin, Thanks for your feedback. That would change some as this would be primarily owner operated.
Nothing wrong with a competent, cost effective manager but much more would be superfluous. At that rate the complete ROI would be years. Hi Steve, This sounds like a good deal. As far as profit, how much net profit are they showing with the numbers above? In any case, this does sound like a pretty good deal. Hi, can you tell me who I need to talk to to get pricing on beer, wine and liquor. Hi Andi — you need to contact local distributors.
You could also try talking to liquor store owners in the same market. Grocery stores in Oklahoma do not sell Liquor yet, but it may happen anytime. How would it effect out business if they start? The store is located on the busy road with Walmart about 1 mi and no other grocery stores to the east. Can we still hope to make same amount of money ,even if grocery stores will start selling liquor?
Thank you. If grocery stores are able to sell liquor and the neighboring Wal-Mart chooses to participate it will be extremely difficult to compete. I think you can safely assume your revenue will decrease if the laws change in favor of grocery stores. But I would think the retail liquor lobby would be able to negotiate some sort of concession for independent liquor store owners.
If it were me, and I really liked this opportunity, I would use the uncertainty to negotiate a lower purchase price with the current owner to help offset the risk. Or perhaps ask for owner financing so he shares part of the risk. I live in the great state of Tax Mass achusetts. My wife and I have been kicking around the idea to open a liquor store in a pretty busy main road where I am sure one complex we are looking at the lease is high. As far as what we would need up front I assume we would have to apply for a liquor license which I am sure if expensive here in Mass.
Is that along with inventory a pretty pricey up front cost I assume? Enjoyed your article. It was very informative. Can you give me a percentage breakdown of what takes the most time running a liquor store? Hi Allen, inventory management and cash flow management are the two biggest headaches. Thanks for the information.
Could you see a liquor store making it if they were closed from Friday evening till opening again on Saturday evening? Do you think a reputation as primarily a high end store would help or hurt with this schedule? Hi Cole. No way. Friday and Saturday are the biggest sales days of the week.
A reputation as a high-end store is good if the population in your trade area is equally high-end. Reading through your blog has been very enlightening.
One of many questions I have is when buying a liquor store in Colorado, the buyer determines there is dead inventory, how does the buyer approach the seller. Do you know what the seller can legally do with the inventory? If possible I would like to talk with you in person about our endeavor.
TIA for your reply. When I sold my store I had to take the dead inventory home. Happy to chat further. Use my contact form to send a private message. I would greatly appreciate it if you could give me some insights as to whether this is a profitable or safe buy to dive into. The business is posted for k asking price plus another 75k for inventory. Facility is about sq. But eventually I would like to just hire a manager and take over the store.
The store is located in a strip mall, which is in the process of redeveloping, and posting says the store has good visibility as well as location to several large apartment complexes. Also, I read that Kansas just passed a bill this year that would allow grocery stores to sell liquor and wines starting July How much do you think this would affect the sales of an individual liquor store?
Hi Jessica, The price seems reasonable but that may be due to the potential impact of grocers entering the market. And 3 years will go by pretty fast.
Your article was very informative. However I have a question. I am looking to join the craft spirits industry, and as you said, the distributors hold all the power thanks to the 3 tier system. I am a little concerned that getting products onto the shelves of retailers may be difficult as most retailers want to deal with just the major distributor accounts, and we all know that getting the distributors to pay attention to a new brand is like pulling teeth.
My question is, is it possible for a retailer, or a group of retailers to force a major distributor to pick up a brand that they want on their shelves, and is there some sort of central ordering system that retailers use to place orders from their various distributors? Hi Eddy. It will be an uphill battle. In Colorado, a Colorado-based producer of beer, wine or spirits can sell directly to retail liquor stores in Colorado but most of them end up working with a distributor. It may be possible for retailers to band together but I think the system is set up to avoid such collaboration and bulk purchasing.
You might contact the Colorado Licensed Beverage Association and ask them for input. They know much more than I do. But it depends on how much lower prices would be per unit. It might not be enough. Hi Justin, Thanks for all the valuable information above. I am looking at a liquor store in florida, sales of , last year, previous year , and the year before , the store is only five yrs old and the owner is asking , nets , I think should be a fair price as it includes , inventory.
Do you think I should rely on the numbers, they do come from tax returns but only last years sales were high the years before were comparatively low. Thanks for your inputs. Hi Kulu, I would want to understand how the revenue more than doubled in 2 years. Seems suspicious. Maybe ask for a monthly breakdown.
Hello Justin I am looking at a store. The seller says that he has not kept records for some time. The seller does not work at the store anymore but I would work 40 to 60 hours a week. My question is how much a reasonable price would be, and is there anything else that I should be looking at. Does his price include inventory? If his price does include inventory you might not be too far apart. You have confirmed what I was already thinking. That would give me some room to go up a bit. I was looking at a smaller average mark up when I was running my figures. I recently sold a professional, consulting services business with about employees that I owned and ran for the last years.
Large inventories and dealing with distributors will be new to me. I am used to working for myself and over the long haul, I like the idea of a relatively stable, long term investment that can provide me with a good income and be able to run things part absentee as time going on obviously more hands on in the first few years. Am I crazy to think a liquor store might be an good opportunity?! Probably take out an SBA loan so there will be debt servicing. Can you help be back into a few numbers? Just a ballpark. I fully plan to work the store myself, now the next step is coming up with the proper financing.
Thanks again for all of your insight and advice. Just wanted to clarify for you and all people who read your post, that in Russia there is no three tier system and you are allowed to import your wine, beer and hard liquor from a manufacturer directly to your store or purchase it from local producers! Thus, please, let it go with this silly Russia non sense. It only grows hatred and misunderstanding between two Great Nations! As for rest, thank you for a great post! We are thinking of opening a liquor store in Miami and you definitely brought some light to the matter!
Hi Dmitri, Sorry if you were offended. And was a different time in US-Russia relations. I have only love for the people of Russia. Watch the movie and let me know if you still think use of the quote is hurtful. Best of luck with your venture in Miami! Thanks for providing us your knowledge for free and helping others to make the right business decision from you experience. I hope all those you have benefited from your free gift will do unto others as it was done unto them. Enough Respect db. I own a 26, s. They also said alums have no where to go and have a pre game party — so they were thinking a nicer store with a banquet room in the back and would support on premises consumption that way.
Also alumni would be bigger spenders. Cash flow would be much slower during summer. Hi Dan, Lots of factors to consider. I would also check with the local liquor control board or equivalent to educate yourself on legal requirements. Laws vary from State to State so someone local would be best. My business partner and I are interested in buying a liquor store in Wisconsin on a small lake. The actually village is small, roughly pop. That could be a problem.
The store sells bait, tackle, pontoon boat and kayak rentals and boat slips along with having the largest wine selection in the county. Any thoughts and help would be extremely helpful, thanks! The deal includes real estate.
If the real estate is worth less obviously you should adjust your offer accordingly. One additional thought. If something unexpected happens during the summer, maybe a problem preventing use of the lake, your revenue and income could be completely shot down. This is a good reason to be more conservative on the business valuation. The solution is to amortize over 20 years but allow the owners to cash out at the end of a few years, probably no more than 5.
The advantage of Owner Carry is two-fold. Hello Justin Thanks for the article. Very informative. Grateful if you can advise how did you manage budget on purchases on CGS? Did you manage weekly or monthly? Did buy deals or bottles on spirits liquors? Beers understand deals would make more sense considering lower cost of beer vs spirit liquors. Overbuying can hurt your PL. I own a liquor store in NJ for approx 10 years and find it very challenging in managing the CGS purchases weekly.
JN, We tried to manage weekly. It was a huge challenge to forecast demand or stay within budget. We overestimated December sales demand and it nearly killed us. The best solution is to have tons of cash so you can fully stock your shelves and patiently wait for sales to roll in. But, of course, having tons of cash is a good solution to many problems. Thanks for the comment! I am considering buying a place in MA. The details I have so are as follows. They did k last year. The rental is lease per month but its a NNN- taxes are about 6k, no idea about insurance for the building or the business.
The lease has 4 more years and has 2 5yr options to renew. My first thought is its way to expensive and should be around k. How much profit do you think I could make on this deal? I would have to finance k or so with the owner, assuming he would do it. I would then be able to scrounge up enough left to stock the store 70k if I drained some accounts.
I agree. I would caution you not to drain all your bank accounts in order to purchase and stock the store. Its a solid location but is currently the 2nd best liquor store in town, another does much better business by the looks of things, and a 3rd may actually do more business as well being in a little strip mall on the way into town. My spot is on the other end of town on the way in from the other side.
There is upside growth, the owner is older,he does not do any type of advertising at all. He does not have a web-site of course…If I did it, I would want to do wine tastings, he never does them…I would also like to add a larger selection of cigs, cheese, crackers- I would look at things like total ice sales. If they were decent but not hugely profitable because he does not I would also buy an ice machine to make my own ice, not sure he has that.
It appears as though the place is under agreement again I spoke with the owner at length today. He signed an offer the other day for k and would not take a penny less he says. No owner financing available. It would be easy to check that based on purchases if deal fell thru IF I was interested and I am not. The place had a ton of storage upstairs and down but only about sq feet of sales space. He only has 2 part time workers for a total of 20 hours combined…he works the place by himself basically.
The K includes wk lottery sales- profits on that are roughly in mass. So alcohol sales are really only about k or so I am guessing. Whats the value of this place? Hi Mike, How do they explain the drop in revenue? Rent sounds pretty steep, too. Who owns the building? A third party or current operators? Sorry they hit the flood last year in May. And they depends on somewhat on Texas state students.
As they said. Building own by a company in Dallas they always renew every 5 years as last 25 years. Great article! Good stuff! I have a quick question for you. You seem like you guys are doing really well over there. Do you chalk your success up solely to location, selection, and customer service? Are there any marketing strategies that you find vital to your stores success? Any information would help, and I appreciate your time! The person who bought the business seems to be doing well.
Sales have gone up consistently year over year. They are showing a GP of K and Net profit of 51, They are currently asking k for the business and an additional 50k for inventory. Any advice you could provide would be wonderful. The price tag sounds pretty reasonable actually. Kind of makes me wonder why are they selling. Is something too good to be true? Be careful to structure the contract so you can still walk away with your earnest money if you find something fishy. Hi Charlie, If you mean start from scratch with new location and inventory and equipment, the answer is no.
Even then you will be vulnerable to cash flow volatility. I would try to pad your account a little further before jumping in. Hopefully it goes without saying that these are total guesstimates on my part. My name is Rene I am trying to open a liquor store do you have any advice that could help with persuading city council on why is a good idea to let this kind of business open and maybe what kind of evidence would be needed if I get to the public hearing any information would be helpful.
Other factors would depend on the city, the neighborhood, nearest competition and a variety of other factors. Wish I could be more helpful. Justin First off thank you for all the advice you are giving out for free on this blog. I am in the process of buying a Liquor store. I could put down more but I want to reserve some cash for things that might come up while running the business.
Here is my problem the bank does not want to lend money on this business. So do you have any ideas on other forms of financing that you could share with us? I am not sure where to go from here. You could offer to pay a higher than average interest rate along with an option to cash out after a few years, maybe 5 years to give you time to build a bit of a war chest. Hi Justin, Firstly, Thanks for all the advises that you have been giving to help people understand this liquor business. You are an awesome person. Just like all others, I also need some advice on buying a liquor store.
I am currently looking for a store that has gross sales of 1. Asking price is k and k inventory. It has an owner operator cash flow of k. How should i go about this deal? Do you think it will be a good business for me? I am actually a first time liquor store buyer. I would be really grateful if you can give me some guidance about this. This sounds like a pretty high-speed liquor store for your first venture. Would you be doing this alone?
You might want to start smaller. My only suggestion would be to focus more on making your customers happy and less on moving product from your preferred supplier, even if said supplier is your brother. Can you email me your phone? I have several questions to ask in regards to potentially opening up a liquor store! Hi Taylor, You can send questions via email by using my contact form below.
I prefer not to give out my phone number. I am involved in a startup that wants to get a product drinking game into a distribution network for liquor stores. My question is, how do you supply your store with product other than alcohol? Do you purchase everything through a distributor? Hi Kipp, All alcohol must be purchased through a distributor. Non-alcohol items e.
Distributors will push their new products, definitely. For something like a board or card game it would be challenging. I doubt a distributor would be interested…but you never know. Perhaps you could get sponsored by a big distributor? They like to give away swag and other promotional items. Thanks for all the advises that you have been giving to help people. It is really good location in front of collage dorm and its close to my house. Hi Tony, See if you find any information on comparable sales in your area.
Is the owner willing to carry or are you paying cash? Gross , a month, 61 year old business and building grandfathered in , with fuel and tobacco. What is your estimated value of the real estate?
Hello attempting to see if asking price is too far out. I know with or without inventory. Maybe there are special considerations that make it a good deal but, for me, the price is way too high. We own the shop an property an are on the main corner of a k county. That is a main thru way to one of tn largest vacation areas. The county has set regulation that there can only be 6 liquor stores. I have the opportunity to be one. An at this time we are planning to in large the building size from sq ft to sq ft.
The tn laws I have read states the liquor sales an storage can only be on the bottom floor. I own an opperate a business that will be moved to the second floor an will generate the residual to cover all business exspences. How did you get that covered? This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages.
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Hancock encourages families to eat meals together at the dining table whenever possible, and by planning ahead, the time saved in addition to the money allows for more quality time. Before you go shopping, you have to know what you have on hand. By clearing out unwanted items from your shelves, freezers, pantry, and refrigerator, you make room for the influx of new food items.
If you need additional space for stockpiles, you may need to add extra shelves in your pantry, laundry room, and closets. Hancock encourages readers to make space for their surplus before buying the surplus. Buy items that your family needs at the lowest prices, so you can save money and, at the same time, have plenty of staples on hand for your family. By following these concepts, you will have no need to ever make late night trips to the grocery store for full-priced items.
Many people live fast-paced, convenience-driven lifestyles. Hancock presents shortcuts for each chapter and shows readers who have limited free time alternative ways to save money. For example, someone with more time can flash-freeze fresh fruit and vegetables in their deep freezer. Someone with less time can use some creative packaging techniques. Alternative, time-saving tips to save money are featured throughout the book. Like many extreme couponers, Hancock believes in giving and sharing with others. When you learn how to shop effectively and to save money on groceries and other supplies, you accumulate a surplus of supplies — and extra money.
Hancock suggests donating overstock to your neighbors, friends, family, and to local food banks. Hancock shares many heartwarming stories of people giving in extraordinary ways, including anonymous giving and acting as coupon angels. If you want to be a hardcore extreme couponer like Kathy Spencer , or if you just want to implement small changes to your lifestyle to save money, this book is for you. Do you have any favorite strategies for saving money and using coupons?
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